5/3/2024"The Innovator’s Battle Plan" by Clayton M. Christensen, Scott D. Anthony and Erik A. Roth on 9/6/2004To summarize the article that I read, it discusses how businesses can overcome challenges when introducing innovative products or services. It emphasizes the importance of identifying a target market, understanding the competitive landscape, and developing a robust marketing and sales strategy. The article also suggests that businesses should consider potential resistance from customers and develop strategies to mitigate these challenges. The article "The Innovator's Battle Plan" offered useful tips that I can use in the future, especially when trying to introduce new products or services. It taught me the importance of knowing who my customers are, understanding who my competitors are, and having a strong plan to sell and market my products. It also pointed out that customers may resist new things, and it's important to have plans to deal with this. For me, this article was like a guide on how to succeed in business, especially when trying to introduce something new. It showed me that being successful isn't just about having a great new product or service, but also about how well you can introduce it to the market. In conclusion, this article taught me a lot about the planning innovators have to go through in order to create an innovation.
By Leanne Punnoose
0 Comments
4/26/2024"8 Strategies to Sustain Business Innovation" by Lane lambert on 9/23/2022The article that I read today from the Harvard Business School was the "8 Strategies to Sustain Business Innovation" by Lane Lambert. From this article, I learned the eight most important strategies to keep in mind to sustain your business innovation. These strategies are: Understanding the opportunity paradox, engaging in parallel play, knowing when to ignore the data, crowd sequencing to accelerate innovation, keeping it simple, making the new look familiar and then distinct, focusing on the job to be done, creating stability amid inevitable change. Using these strategies early in your business career will allow you to avoid facing greater challenges in the years to come. While reading the article, there was one person who really stuck out to me. This person was the Associate Professor of Business, Rory M. McDonald. The reason why he stuck out to me is because it seemed like he knew so much about innovations in business. I did a bit of research on him and it turns out that he is the head of the course Building and Sustaining a Successful Enterprise (BSSE) in the MBA elective curriculum. He was also recognized as one of the top 40 business professors! from reading this article, I have gained an immense amount of knowledge about going into this work field. Running a business based on an innovation you created is still the same as running a business based on your own invention. Thus, using these strategies, you can sustain your business and keep it running for years and years. This is what I have learned from reading this article.
By Leanne Punnoose 4/19/2024"THe Untold story of 'green' entrepreneurs" by Sean Silverthorne 7/12/2011The article that I chose to read today from the Harvard school of business website was "The Untold Story of 'Green' Entrepreneurs" by Sean Silverthorne. This article talked about a research study the school made concerning entrepreneurs in the organic food, sustainable agriculture, natural cosmetics, the built environment, ecotourism, and waste recycling fields. This article focuses on the history of green entrepreneurship, as they believe it is highly ignored by business and environmental historians. From this article, I was able to learn more about the history of these successful green entrepreneurs. I learned about their hardships and struggles, and it educated me that not everything is easy in life. In class, I have learned about the multiple, important characteristics and entrepreneur should have. Some characteristics include self-confident, curious, imaginative, perceptive, etc. Many of the green entrepreneurs I learned about demonstrate these characteristics. There will always be hardships and struggles in any work field, but having that characteristic of perseverance and self-confidence, you will end up with success. From the article I read today, I can use what I have learned and apply it to my life in various ways. I can keep in mind the skills and success these green entrepreneurs had to get to the place they are at today. I can also think of other ways I can contribute to making our earth better and create something that will benefit the earth in only a good way. This is what I have learned from this article.
By Leanne Punnoose 4/5/2024"How Cost Accounting is Improving Healthcare in Rural Haiti" by Carmen Nobel on 9/24/2018The article that I read from the Harvard Business School was "How Cost Accounting is Improving Healthcare in Rural Haiti" by Carmen Nobel. This article focused on the implementation of cost accounting practices to enhance healthcare delivery in rural Haiti. It highlights the efforts of the healthcare organization Zanmi Lasante, which worked with Harvard Business School to introduce cost accounting methods in its operations. Zanmi Lasante can make informed decisions to assign resources effectively, improve efficiency and enhance overall healthcare quality in the various communities of Haiti. Healthcare delivery and resource management have been improved through the use of cost accounting in settings with limited resources, ultimately benefiting patients in rural Haiti. From this article, I learned that cost accounting practices are being implemented by healthcare organizations like Zanmi Lasante and Harvard Business School to improve healthcare delivery in rural communities in Haiti. This helps in analyzing patient care costs and enhancing healthcare quality and management, ultimately benefiting communities. I learned that there are organizations that are acknowledging that there are communities all around the world that a re struggling, thus they are making the effort to help those communities. This is what I have learned from this article.
By Leanne Punnoose 3/28/2024"Sam Walton: Great From the Start" by Richard s. tedlow 7/23/2001The article that I read from the Harvard School of Business was about a man by the name of Sam Walton. At first, I had no idea who this person was. I thought this article would be about some regular businessman who decided to start a store. However, this article was about much more than that. This article covered the life story about Sam Walton, the person behind the very famous grocery store, Walmart. People all over North America use Walmart as a common store to get their groceries, clothing or even furniture. Walton founded Walmart in 1962 with the opening of the first Wal-Mart Discount City store in Rogers, Arkansas. Walton focused on the concept of discount retailing in a wide range of areas to sell things at lower prices. He emphasized volume buying and cost-efficient distribution to keep prices competitive. The article also touched upon some of Walton's challenges and successes. At the beginning of Sam Walton's business journey, he had faced many setbacks such as signing a lease that led him to lose his first successful store. Despite challenges, Walton demonstrated resilience and determination to rebuild his business successfully, thus created Wal-Mart. Walton achieved remarkable growth with thousands of stores worldwide by the time of his death in 1992. I have learned many business related lessons from this article. Such a successful business, Walmart, had many struggles at first in order to get to the point it is at today. With perseverance and commitment, anything can be done. That is what this article about Sam Walton taught me.
By Leanne Punnoose 3/22/2024"Making the Decision to Franchise (or not)" by Julia Hanna on 7/28/2008The article that I chose from the Harvard Business School was "Making the Decision to Franchise (or not)" by Julia Hanna. This article is about a new study the school had made on 420 convenience store chains planned to serve diverse customers. *After, they focused on 43 chains that own some stores and franchises. They dove deeper by looking into the 34,892 stores operated by those chains to confirm that the decision to franchise was driven by the firm's decision to serve new or unfamiliar markets. The study concluded that even successful businesses face challenges of serving customers with different tastes and preferences. Although there is not much work you need to do when owning a franchise, you do not get much control over the products that the franchise is selling. The study also stated that convenience store chains that do not franchise tend to employ fewer supervisory and staff that work on the finances of the franchise. These findings allowed the students researching this topic to have a bigger insight in deciding whether or not franchising is beneficial.
From this article alone, I learned a lot about how stressful and how much work goes into owning a franchise and business. However, it is important to know that we cannot satisfy everyone/all customers. Everyone has different tastes and preferences that even if you try so hard, a few people may not like your product; but that is perfectly fine. You should always try and improve your product to most people's liking, but know that not everyone will appreciate. It is especially hard when it comes to owning a franchise. I think this because with owning a franchise, you cannot come up with new products to had into the store. The original owner of the product/company is in-charge of new products. If customers come up to you and complain about a product, you cannot do much about it as you do not have the power to take something out or add something new. In conclusion, owning a franchise can be difficult and easy is various ways. By Leanne Punnoose 3/1/2024"BUILDING AN 'ARMY' OF FANS: MARKETING LESSONS FROM K-POP SENSATIOn BTS" BY SHALENE GUPTA, 8/8/2022 The article that I read was "Building an 'ARMY' of Fans: Marketing Lessons from K-POP Sensation BTS" by Shalene Gupta. This article was about how BTS, a highly successful K-POP group, has managed to assemble a massive global fanbase and explores the marketing strategies behind their success. It discusses how BTS strategically used social media, fan engagement, branding, and other marketing techniques to connect with their audience on a deep level, leading to their success in the music industry. After reading this article, I was completely astonished and impressed by the amount of steps BTS and their team had to accomplish before becoming incredibly successful. I, myself, am a fan of BTS and have been supporting them ever since I was in grade 6. Especially during quarantine, I found myself listening to a variety of BTS' songs and many other groups in the industry. Learning more about a music band that I am highly interested in, educated me and enabled me to understand the struggles they went through to obtain their success.
From this article, I was able to learn many tips and techniques that BTS used in their career to gain more attention. Some techniques included certain marketing and business strategies. BTS and their management company, Big Hit Entertainment (now HYBE Corporation), have implemented effective marketing campaigns to promote their music and brand. This includes partnerships with brands, collaborations with other artists and creative promotions. Not only were they focused on their marketing campaigns, but they realized the importance of fan engagement. BTS’ love and care for their fans brought closeness and interest from their fans. BTS places a significant emphasis on engaging with their fanbase, known as ARMY. They actively communicate with fans through social media, fan meetings and special events, creating a strong sense of community and loyalty. These are multiple successful tips and techniques that can help me if I ever plan on doing marketing. In conclusion, BTS became such a successful group not only because of their talent but because of the effective marketing strategies that BTS and their team had. By Leanne Punnoose Blog: digital CitizenshipDigital Citizenship is how efficiently and responsibly we use the internet. It involves understanding how to navigate digital spaces safely and respectfully while contributing positively to online communities. If we do not take care of what we upload on the internet, it can heavily impact the outcome of our future. It is very important to take care of your life on the internet as there may be consequences if you do not. It may cause issues when you are applying for a job nowadays as interviewers look into any information about you on the internet. If something bad were to pop up, that would cause them to automatically lose interest in giving you the job position. Although you should be mindful of your digital citizenship, there are quite a few positives regarding it as well. Some positives include the ability to connect with a variety of perspectives and share knowledge. However, there are also potential negatives such as cyberbullying, privacy concerns, and the spread of misinformation. Thus, it is essential to be mindful of your digital citizenship as there are many dangers that can come from the online environment.
By Leanne Punnoose |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. Archives
May 2024
Categories |